Fiducian expands planning footprint

Fiducian Group has further extended its financial planning footprint -- this time via the acquisition of financial planning businesses in north-east Melbourne and Gippsland.

The company has announced to the Australian Securities Exchange (ASX) that the transactions involved $720,000 which was being funded by excess cash. Fiducian said that in line with company policy it was not disclosing the names of the businesses or planners who had joined Fiducian but the acquisition represented a continuation of its ongoing strategy to expand its planner network.

It said it had lifted funds under advice by an additional $44 million to $1.95 billion with total funds under management, administration and advice now standing at $4.95 billion.

Commenting on the transactions, Fiducian Group manager distribution and business development, Jai Singh said the company supported trusted financial planners who fitted with the company's corporate culture. "These opportunities have expanded the network into geographic areas not previously serviced by Fiducian," he said.

Related Content

New analysis backs infrastructure allocations

New analysis from JP Morgan Asset Management has backed the value of core infrastructure in asset allocation, particularly for institutional investors...more

ISA’s Whiteley attacks banks on super

Industry Super Australia (ISA) has launched another attack on the major banks claiming consumers could see a fall in returns if the dominance of the b...more

Increased claims drag AMP results

A significant deterioration in claims experience throughout the year led to AMP posting a net loss of $344 million for the 2016 financial year, accord...more



Add new comment